Banking & Savings M&A » By The Online Investor Staff, updated Thu., Mar. 28, 7:56 AM
Recent mergers and acquisitions in the Banking & Savings M&A category.
Slide #86. CorpBanca — Banco Itau in Chile
Acquirer: |
CorpBanca (BCA) |
Acquiree: |
Banco Itau in Chile |
Details: |
CORPBANCA (NYSE: BCA) (BCS: CORPBANCA), CorpGroup (CorpBancas holding company) and Ita Unibanco announce that today they have entered into a definitive agreement to merge CorpBanca and Banco Ita Chile in a stock-for-stock transaction. The transaction will create a new Chilean Bank that will operate under the Ita name. Through this merger, Ita Unibanco and CorpBanca will combine their banking businesses in Chile and Colombia to create an Andean banking platform. |
Corpbanca is primarily engaged in the provision of banking services to medium and small companies, commercial establishments and general consumers. Services provided include deposits, checking and savings accounts, credit cards, ATMs, export financing, consumer and commercial loans, letters of credit and financial intermediation. Through its subsidiaries, Co. is also engaged in financial advisory services, mutual fund management, insurance brokerage and securities brokerage services.As of Dec. 31, 2014, Co. had 127 branches and 414 ATMs in Chile and 170 branches and 180 ATMs in Colombia. As of Dec 31 2014, Co. had total assets of Chl$20,357,027,000 and total deposits of Chl$8,076,966,000.
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March 28, 2024 7:56 AM Eastern
Strong Buy (4.00 out of 4)
97th percentile
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